Turkish Airlines posts operating net profit for first half 2018

Turkish Airlines managed to increase both passenger and cargo revenue in the first half of 2018. Total revenue for this period increased significantly, by approximately 30% compared to the same period last year, reaching US$6 billion.

During this period Turkish Airlines increased net operating profit from US$17 million to US$258 million, due to increasing demand and unit revenues, despite increasing fuel prices.

In the first half of the year, EBITDAR (earnings before interest, taxes, depreciation, amortization and rent), which is used as a cash generation indicator, stood at US$1.28 billion, a 38% increase. EBITDAR margin improved by 1.5 points to 21.5%.

Total Load Factor climbed 4.3 points to 80.4%, the highest load factor in Turkish Airlines’ history for the first half of a year. During the same period, increases in total number of passengers carried, capacity (available seat kilometre) and demand (revenue per kilometre) were 18%, 9% and 16% respectively, year-on-year.

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